In response to:

The Crisis of the Middle Class and American Power

johnm h Wrote: Jan 09, 2013 9:05 AM
Actually the only solution is a less intrusive central government. Regulations are used to reduce competition. The tax code rewards wealth concentration. The banking system gathers too much of the wealth and doesn't even do its job well. And taxes fall on the middle class. Consumption is not the problem. If we consumed less we would save more, import less and export more. You cannot reinvent basic economics based on a misreading of the impact of a plutocratic system. All societies gradually centralize and all are then gently or not so gently milked by those who have more influence. There has never been a greater opportunity for upward mobility based on new technology, household services and the proper incentives.

Last week I wrote about the crisis of unemployment in Europe. I received a great deal of feedback, with Europeans agreeing that this is the core problem and Americans arguing that the United States has the same problem, asserting that U.S. unemployment is twice as high as the government's official unemployment rate. My counterargument is that unemployment in the United States is not a problem in the same sense that it is in Europe because it does not pose a geopolitical threat. The United States does not face political disintegration from unemployment, whatever the number is. Europe might.

At the same time, I would agree...